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Banking has grown too much in Europe - in three senses. First, the European banking system has reached a size where its contribution to real economic growth is likely to be nil or negative. Second, the European financial structure is biased towards banks (rather than securities markets), which...
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of technological competitiveness (based on innovation in products and markets) or cost competitiveness (relying on … innovation in processes and machinery) and their impact on economic performances. We propose models for the determinants of … classes that group manufacturing and services industries with distinct patterns of innovation. Tests are carried out by …
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